Crypto Market Increases Marginally Along With Trading Volume; Bitcoin, Ethereum Up

The global crypto market rises marginally on Monday. The total market cap was up by 3.53 per cent to $2.29 trillion, even as the total trading volume was up by 19.76 per cent to $58.88 billion. Bitcoin BTC was the most trending, it was up by 4.28 percent to $62,735.64. Its 24-hour trading volume was $25.36 billion. Pendle PENDLE was the top gainer. It was up by 14.57 per cent. Its 24-hour trading volume was $74.55 million. Fantom FTM was the top loser. It was down by 1.86 per cent. Its 24-hour trading volume was $101.9 million.

DeFi was up by 2.68 percent to $3.83 billion, Coinmarketcap.com reported.

Also Read: Budget 2024: Crypto Stakeholders Call For Tax Deductions, Regulatory Framework

Sathvik Vishwanath, Co-Founder & CEO, Unocoin said, "Bitcoin rose 4% to $60,300 after the assassination attempt on former US President Donald Trump, amid bullish sentiment linked to Trump's pro-crypto stance. Analysts are speculating about a potential market reaction to Trump's election victory, fueled by the support of personalities such as Elon Musk. Bitcoin is currently trading at $62,500. showing signs of a bullish reversal with whale accumulation and positive technical indicators. A sustained break above $64,602 is crucial to confirm the upside momentum; failure may result in repeated support tests. In the short-term, Bitcoin may range between $61,000 and $62,000, potentially breaking above $63,000 or returning to $55,000. Market stability depends on geopolitical developments and investor sentiment."

Cryptocurrency Prices

Bitcoin: Bitcoin BTC was up by 4.28 per cent to$62,735.64. Its 24-hour trading volume was $25.36 billion. It is currently ranked number 1 on Coinmarketcap, based on market cap. Bitcoin’s market dominance was 53.9 per cent.

Ethereum: Ethereum ETH was up by 4.40 percent to $3,332.82 from the previous day. Its 24-hour trading volume was $11.96 billion. Ethereum’s market dominance was 17.5 per cent.

Tether: Tether USDT was trading at $1.00. It was up by 0.02 per cent. Its 24-hour trading volume was $45.02 billion. It is ranked third on Coinmarketcap.

Other Altcoins

Solana SOL was up by 4.86 per cent to $151.70. Its 24-hour trading volume was $1.98 billion. Avalanche AVAX was trading at $26.74, up by 2.68 per cent. Its 24-hour trading volume was $266.8 million. Cardano ADA was up by 1.26 percent to $0.4355 from the previous day. Its 24-hour trading volume was $345.3 million. 

Meme Coins

Shiba Inu SHIB was up by 2.69 per cent, with a 24-hour price of $0.00001801. 

Dogecoin DOGE was also up by 3.94 per cent to $0.1183. 

Decentralised Finance

DeFi coin was trading at $0.03824, up by 3.25 per cent. Yearn.Finance YFI was down by 1.59 per cent to $5,967.48 in the last 24 hours. Its 24-hour trading volume was $11.31 million.